Square-Enix CEO Yoichi Wada to Step Down in June

Some interesting industry news trickled in during the wee hours of the morning: Yoichi Wada, the CEO of Square-Enix, will be stepping down from his position at the end of June. His replacement will be the company’s current representative director, Yosuke Matsuda.

The news comes alongside reports of the “extraordinary loss[es]” that Square-Enix suffered in its fiscal year ending March 31, 2013—10 billion yen, or approximately 106 million USD. The company has slashed its consolidated results forecast as a result.

Square-Enix’s troubles appear to be primarily based in the console market: It expected its sales of Sleeping Dogs, Hitman: Absolution, and the new Tomb Raider to hit 1.75 million, 3.6 million, and 3.4 million units respectively. The games’ sales didn’t reach those lofty numbers, and Square-Enix expects to underperform in digital downloads, too.

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The iOS market probably isn’t at the forefront of Square-Enix’s mind right now, but it should be. The company’s high-priced mobile games and occasionally lackluster offerings have damaged consumer confidence, even though Square-Enix has the resources to make a killing with reasonably-priced remakes of its classic titles.

It would be a huge shame for such a distinguished, talented company to go completely under because of some dumb decisions. Maybe the release of Final Fantasy V iOS will mark the start of a sadder, wiser Square-Enix.

(Come on, Final Fantasy VII remake. Light our darkest hour.)

[Square-Enix via OpRainfall]

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